According to the report, the global supercapacitor material market is
expected to grow at a CAGR of 19.3% during the forecast period and reach
$2.2 billion by 2023.

Asia Pacific has the fastest growth rate and is likely to move toward
greater adoption of advanced supercapacitor materials technology, which
will directly boost the consumption value, majorly from China, Japan,
and South Korea.

The increased demand for electric vehicles and power generation from
wind turbines need supercapacitors to be placed to optimize their power
density requirements. The market according to the material type used is
divided into activated charcoal, carbon derivatives, metal oxides,
conductive polymers, and others. The main application areas of
supercapacitor materials covered in the study are consumer electronics,
industrial, and transportation sectors.

The consumption of supercapacitor materials mostly comes from
transportation and consumer electronics segments due to better adoption
rate in the industry. Further, R&D in material enhancement for more
power capacity effectiveness is expected to boost the growth in the next
5 years. Globally, the demand for supercapacitor materials is high in
economically developing countries, whereas the developed regions are
moving toward saturation.

The regional demand for supercapacitor materials is growing, especially
in Asia Pacific and European regions. This growth is supported by the
increasing awareness about sustainable power sources and high
consumption of energy in these regions. Currently, Asia Pacific is the
global leader in the supercapacitor materials market from the demand
side.

The European region has strict policies for the non-toxic materials
consumption, providing the maximum usage of high-quality supercapacitor
materials. From the supplier side, Asia Pacific is leading the market,
followed by Europe. Developing and underdeveloped markets, such as
Middle East, are also witnessing capital investments for R&D and product
development of materials for supercapacitors, which is increasing the
regional competition.